Beautiful Virgin Islands

Tuesday, Jun 03, 2025

Central Bank of Sweden Ready for Second Phase of e-krona Pilot

Central Bank of Sweden Ready for Second Phase of e-krona Pilot

Sveriges Riksbank, the central bank of Sweden, will carry out the next stage of its e-krona project with the help of two organizations from the financial sector. The move signals a transition from the initial in-house testing with simulated participants to cooperation with real, external partners.

Riksbank to Work With Handelsbanken and Finnish Tietoevry to Test e-krona

The main task during the new phase of the pilot will be to trial “the technical solution for the e-krona” with the participation of real market entities. To accomplish this, Riksbank has invited Handelsbanken, one of the country’s major banking institutions, and Tietoevry, a digital services and software company. In an announcement published Friday, the regulator noted:

“Involving external actors as participants in the test environment will make it possible for the Riksbank to evaluate the integration between the participants’ existing systems and the technical platform for the e-krona pilot.”

One of the elements that will be tested is the integration of the payment flows developed during the first year of the pilot with the internal systems of the new participants, Riksbank explained. The partners will simulate how banks might interact with the e-krona infrastructure, Tietoevry detailed in a separate press release, elaborating:

“Tietoevry will develop and test the process of interchangeability between commercial money and e-kronor and analyse how this can be carried out securely and efficiently.”

The Finland-headquartered company also noted its “unique position in the Nordic financial ecosystem” thanks to a large customer base consisting of banks and payment providers. Over 70% of all Nordic bank transfers go through its payment systems and the fintech enables the leading mobile payment providers in Sweden, Norway and Finland.

Central Bank of Sweden to Integrate E-krona With Existing Banking Infrastructure

“Our role in the Swedish payment infrastructure is well established, and Tietoevry is a natural partner when exploring how to integrate a digital currency with existing banking infrastructure,” said Christian Segersven, head of financial services solutions and software development. “We are looking forward to supporting this journey towards an inclusive digital currency that will open up for innovative and secure services,” he added.

Svenska Handelsbanken, the other partner to get involved in the second stage of the e-krona pilot, is one of Sweden’s largest banks, with more than 400 branches across the country. Founded in 1871, it’s also the oldest company listed on the Swedish stock exchange. In the past couple of decades, Handelsbanken has been expanding its operations in other countries in the region as well as Netherlands and the U.K., where it has over 200 branches.

Sweden’s plan to issue a central bank digital currency (CBDC) dates back to a few years ago. Towards the end of 2020, the government in Stockholm began exploring the feasibility of digitalizing the national fiat, the Swedish krona. Arguably, the Scandinavian country has already built the world’s most cashless society. The review should be conducted within two years of its launch.

Last month, Riksbank announced the completion of the first phase of the study and released a report which highlighted the continuing decline of cash usage in the country. The central bank of Sweden emphasized the need to proceed with the project and facilitate the involvement of market actors expected to take part in the testing now and join the e-krona network in the future.

Source: Central Bank of Sweden Ready for Second Phase of e-krona Pilot – Fintechs.fi

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
China Accuses US of Violating Trade Truce
Panama Port Owner Balances US-China Pressures
France Implements Nationwide Outdoor Smoking Ban to Protect Children
German Chancellor Merz Keeps Putin Guessing on Missile Strategy
Mandelson Criticizes UK's 'Fetish' for Abandoning EU Regulations
British Fishing Boat Owner Fined €30,000 by French Authorities
Dutch government falls as far-right leader Wilders quits coalition
Harvard Urges US to Unfreeze Funds for Public Health Research
Businessman Mauled by Lion at Luxury Namibian Lodge
Researchers Consider New Destinations Beyond the U.S.
53-Year-Old Doctor Claims Biological Age of 23
Trump Struggles to Secure Trade Deals With China and Europe
Russia to Return 6,000 Corpses Under Ukraine Prisoner Swap Deal
Microsoft Lays Off Hundreds More Amid Restructuring
Harvey Weinstein’s Publicist Embraces Notoriety
Macron and Meloni Seek Unity Despite Tensions
Trump Administration Accused of Obstructing Deportation Cases
Newark Mayor Sues Over Arrest at Immigration Facility
Center-Left Candidate Projected to Win South Korean Presidency
Trump’s Tariffs Predicted to Stall Global Economic Growth
South Korea’s President-Elect Expected to Take Softer Line on Trump and North Korea
Trump’s China Strategy Remains a Geopolitical Puzzle
Ukraine Executes Long-Range Drone Strikes on Russian Airbases
Conservative Karol Nawrocki wins Poland’s presidential election
Study Identifies Potential Radicalization Risk Among Over One Million Muslims in Germany
Good news: Annalena Baerbock Elected President of the UN General Assembly
Apple Appeals EU Law Over User Data Sharing Requirements
South Africa: "First Black Bank" Collapses after Being Looted by Owners
Poland will now withdraw from the EU migration pact after pro-Trump nationalist wins Election
"That's Disgusting, Don’t Say It Again": The Trump Joke That Made the President Boil
Trump Cancels NASA Nominee Over Democratic Donations
Paris Saint-Germain's Greatest Triumph Is Football’s Lowest Point
OnlyFans for Sale: From Lockdown Lifeline to Eight-Billion-Dollar Empire
Mayor’s Security Officer Implicated | Shocking New Details Emerge in NYC Kidnapping Case
Hegseth Warns of Potential Chinese Military Action Against Taiwan
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Jamie Dimon Warns U.S. Bond Market Faces Pressure from Rising Debt
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Taylor Swift Gains Ownership of Her First Six Albums
Bangkok Ranked World's Top City for Remote Work in 2025
Satirical Sketch Sparks Political Spouse Feud in South Korea
Indonesia Quarry Collapse Leaves Multiple Dead and Missing
South Korean Election Video Pulled Amid Misogyny Outcry
Asian Economies Shift Away from US Dollar Amid Trade Tensions
Netflix Investigates Allegations of On-Set Mistreatment in K-Drama Production
US Defence Chief Reaffirms Strong Ties with Singapore Amid Regional Tensions
Vietnam Faces Strategic Dilemma Over China's Mekong River Projects
Malaysia's First AI Preacher Sparks Debate on Islamic Principles
White House Press Secretary Criticizes Harvard Funding, Advocates for Vocational Training
France to Implement Nationwide Smoking Ban in Outdoor Spaces Frequented by Children
×